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MAS: We help 2,000 people a day

The Money Advice Service says it changed the financial behaviour of 2,000 people a day in the three months to June.  

The MAS commissioned research firm Ipsos Mori to ask 483 users a series of questions to assess whether the organisation is helping people protect assets, provide for dependents, save regularly, prepare for retirement and manage debt.

From this data the MAS produced its first quarterly financial capability tracker, published last week. The MAS says it changed the behaviour of 184,000 people in Q2 2013 and is on course to beat its annual target of changing the behaviour of 480,000 people.

Separate data for Q3 shows 3.7 million consumers contac-ted the MAS for money advice and 58,000 completed its online budget planner.

Also in Q3, partners in England and Wales funded by the MAS provided debt advice sessions to 42,000 people. 

Between April and September – the MAS financial year to date – the service says it has received more than 6.3 million contacts for money advice, both online and offline, including 86,000 debt advice sessions.

MAS chief executive Caroline Rookes says: “We are erring on the side of caution when we estimate 184,000 actions between April and June, but these figures are a strong signal that the service can really motivate people not just to think about how they manage their money but to do something as a result.”

Facts and Figures managing director Simon Webster says: “It ought to be helping lots of people with the money it spends but I would be very surprised if the real figure was actually so high.”

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